Can I retire at age 74 with 1,210,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$99,921$99,031$98,162$97,315$96,487$94,116
2 years$49,466$48,544$47,652$46,786$45,946$43,572
3 years$32,650$31,724$30,834$29,976$29,150$26,847
4 years$24,243$23,321$22,439$21,596$20,790$18,576
5 years$19,201$18,284$17,414$16,588$15,804$13,685
6 years$15,840$14,930$14,073$13,265$12,505$10,484
7 years$13,441$12,538$11,695$10,906$10,170$8,246
8 years$11,642$10,748$9,918$9,149$8,437$6,609
9 years$10,243$9,358$8,542$7,793$7,105$5,372
10 years$9,125$8,248$7,447$6,718$6,054$4,414
11 years$8,211$7,343$6,557$5,846$5,207$3,657
12 years$7,450$6,591$5,819$5,128$4,512$3,051
13 years$6,806$5,956$5,199$4,527$3,935$2,558
14 years$6,255$5,414$4,671$4,019$3,449$2,155
15 years$5,778$4,946$4,217$3,584$3,037$1,822
16 years$5,361$4,538$3,824$3,209$2,684$1,545
17 years$4,993$4,179$3,479$2,883$2,380$1,313
18 years$4,667$3,862$3,176$2,599$2,116$1,119
19 years$4,375$3,579$2,908$2,348$1,886$954
20 years$4,112$3,326$2,668$2,127$1,685$816
21 years$3,875$3,098$2,455$1,930$1,508$698
22 years$3,660$2,892$2,262$1,755$1,351$598
23 years$3,464$2,704$2,089$1,598$1,213$513
24 years$3,285$2,534$1,932$1,458$1,090$440
25 years$3,120$2,378$1,789$1,331$981$378
26 years$2,968$2,235$1,659$1,217$884$324
27 years$2,827$2,103$1,541$1,114$797$279
28 years$2,697$1,982$1,432$1,021$719$240
29 years$2,576$1,870$1,333$936$649$206
30 years$2,463$1,766$1,242$859$587$177
31 years$2,358$1,669$1,158$789$530$153
32 years$2,259$1,579$1,080$725$480$131
33 years$2,167$1,496$1,008$667$434$113
34 years$2,080$1,418$942$613$393$98
35 years$1,999$1,345$881$565$356$84
36 years$1,922$1,276$824$520$323$72
37 years$1,849$1,212$771$479$292$62
38 years$1,781$1,152$722$442$265$54
39 years$1,716$1,095$677$407$240$46
40 years$1,654$1,042$634$376$218$40
41 years$1,596$992$595$347$198$34
42 years$1,541$945$558$320$179$30
43 years$1,488$900$524$295$163$26
44 years$1,438$858$491$273$148$22
45 years$1,390$818$461$252$134$19
46 years$1,344$781$433$233$122$16
47 years$1,301$745$407$215$111$14
48 years$1,259$711$383$199$100$12
49 years$1,219$679$360$183$91$10
50 years$1,181$649$338$170$83$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,210,000, adding $5,205 every year, while hoping to spend $51,492 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 71/24/5 Blend
73$1,210,000$1,210,000$1,210,000$1,210,000
74$1,338,789$1,274,659$1,255,904$1,432,841
75$1,420,558$1,282,330$1,243,190$1,503,258
76$1,508,942$1,288,651$1,228,324$1,573,383
77$1,604,561$1,293,502$1,211,179$1,648,686
78$1,708,098$1,296,755$1,191,625$1,729,660
79$1,820,300$1,298,272$1,169,521$1,816,852
80$1,941,994$1,297,911$1,144,723$1,910,863
81$2,074,085$1,295,516$1,117,078$2,012,355
82$2,217,570$1,290,925$1,086,429$2,122,060
83$2,373,547$1,283,965$1,052,610$2,240,784
84$2,543,222$1,274,452$1,015,445$2,369,415
85$2,727,922$1,262,192$974,754$2,508,934
86$2,929,108$1,246,977$930,346$2,660,423
87$3,148,387$1,228,590$882,023$2,825,074
88$3,387,530$1,206,797$829,578$3,004,202
89$3,648,482$1,181,354$772,792$3,199,258
90$3,933,386$1,152,000$711,441$3,411,842
91$4,244,604$1,118,460$645,286$3,643,717
92$4,584,730$1,080,442$574,080$3,896,832
93$4,956,626$1,037,637$497,565$4,173,331
94$5,363,439$989,718$415,470$4,475,582
95$5,808,636$936,340$327,515$4,806,197
96$6,296,034$877,138$233,404$5,168,054
97$6,829,836$811,725$132,830$5,564,330
98$7,414,672$739,692$25,472$5,998,528
99$8,055,639$660,608$0$6,474,510
100$8,758,352$574,015$0$7,001,290